GW&K Investment Management LLC Invests $899,000 in IonQ, Inc. $IONQ

Key Points

• GW&K Investment Management bought a new position of 14,624 shares in IonQ (NYSE:IONQ) during Q3, valued at about $899,000 per its SEC filing.
• Analysts have a consensus rating of “Moderate Buy” with an average price target of $69.45 (9 Buy, 6 Hold, 1 Sell), though several firms recently trimmed targets (e.g., Benchmark to $65, JPMorgan to $42).
• IONQ opened at $35.69 (52‑week range $17.88–$84.64) with a market cap of about $13.09B; insider activity includes a director buying 3,000 shares at $38.38 and insiders selling ~30,781 shares (~$1.53M) in the past 90 days.

GW&K Investment Management LLC bought a new position in IonQ, Inc. (NYSE:IONQ - Free Report) during the third quarter, according to its most recent filing with the SEC. The firm bought 14,624 shares of the company's stock, valued at approximately $899,000.

Several other hedge funds have also bought and sold shares of IONQ. Archer Investment Corp increased its stake in IonQ by 119.3% during the 2nd quarter. Archer Investment Corp now owns 592 shares of the company's stock valued at $25,000 after purchasing an additional 322 shares in the last quarter. Stone House Investment Management LLC lifted its stake in shares of IonQ by 700.0% in the third quarter. Stone House Investment Management LLC now owns 400 shares of the company's stock valued at $25,000 after buying an additional 350 shares in the last quarter. Hilltop National Bank lifted its stake in shares of IonQ by 112.5% in the third quarter. Hilltop National Bank now owns 425 shares of the company's stock valued at $26,000 after buying an additional 225 shares in the last quarter. Financial Consulate Inc. acquired a new position in shares of IonQ during the third quarter valued at about $29,000. Finally, UMB Bank n.a. acquired a new position in shares of IonQ during the third quarter valued at about $31,000. Institutional investors and hedge funds own 41.42% of the company's stock.

Analysts Set New Price Targets

IONQ has been the topic of a number of analyst reports. Benchmark lowered their target price on shares of IonQ from $75.00 to $65.00 and set a "buy" rating on the stock in a report on Thursday, February 26th. Mizuho started coverage on shares of IonQ in a research report on Thursday, December 11th. They issued an "outperform" rating and a $90.00 price target on the stock. JPMorgan Chase & Co. cut their price target on IonQ from $47.00 to $42.00 and set a "neutral" rating for the company in a research note on Thursday, February 26th. Wedbush started coverage on IonQ in a report on Wednesday, December 17th. They set an "outperform" rating and a $60.00 price objective for the company. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of IonQ in a research note on Monday, February 9th. Nine investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $69.45.

IonQ Price Performance

IONQ opened at $35.69 on Friday. IonQ, Inc. has a fifty-two week low of $17.88 and a fifty-two week high of $84.64. The firm has a market capitalization of $13.09 billion, a P/E ratio of -14.33 and a beta of 2.61. The company's 50-day moving average is $41.25 and its 200 day moving average is $50.23.

Insider Buying and Selling at IonQ

In other IonQ news, Director William J. Teuber, Jr. bought 3,000 shares of IonQ stock in a transaction dated Friday, February 27th. The stock was bought at an average cost of $38.38 per share, with a total value of $115,140.00. Following the completion of the acquisition, the director directly owned 9,413 shares in the company, valued at approximately $361,270.94. The trade was a 46.78% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Robert T. Cardillo sold 5,165 shares of the stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $39.44, for a total value of $203,707.60. Following the sale, the insider directly owned 112,291 shares of the company's stock, valued at $4,428,757.04. The trade was a 4.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 30,781 shares of company stock worth $1,525,804. Insiders own 5.20% of the company's stock.

IonQ Company Profile

IonQ, Inc engages in the development of general-purpose quantum computing systems in the United States. It sells access to quantum computers of various qubit capacities. The company makes access to its quantum computers through cloud platforms, such as Amazon Web Services (AWS) Amazon Braket, Microsoft's Azure Quantum, and Google's Cloud Marketplace, as well as through its cloud service. It also provides contracts associated with the design, development, and construction of specialized quantum computing hardware systems; maintenance and support services; and consulting services related to co-developing algorithms on quantum computing systems.

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